Econpile up 2.04% on firmer 1Q earnings, dividend

KUALA LUMPUR (Nov 23): Econpile Holdings Bhd shares rose 2.04% this morning after its net profit for its first financial quarter ended Sept 30, 2017 climbed 28.9% to RM21.19 million from RM16.45 million a year earlier, thanks to higher revenue.

At 9.05am, Econpile rose 6 sen to RM3 wiith 108,800 shares done.

Econpile said quarterly revenue jumped 48.1% y-o-y to RM168.90 million from RM114.08 million due to significant progress billings from larger-ticket projects, including works for iconic properties like Maju Kuala Lumpur, Oxley Towers KLCC and Pavilion Damansara Heights.

It declared a first interim dividend of 1.5 sen per share. —

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